Agora to buy Polish cinema group for €25 million

Agora SA, the largest publisher in Poland, announced it will buy Centrum Filmowe Helios SA, the third-biggest cinema operator in the country, in order to reduce dependence on the newspaper advertising market, Bloomberg reported. According to the company’s e-mailed statement Tuesday, Agora signed a preliminary agreement to acquire 84 percent of Helios for EUR 25m. Agora, which publishes the nation’s leading non-tabloid daily, had suffered from the declining advertising and circulation, but it has tried to focus on the Internet and other non-print media, and have already seen some successes, according to the Reuters article posted on Interactive Investor

http://www.sfnblog.com/ownership_and_regulations/2010/03/agora_to_buy_polish_cinema_group_for_25.php

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